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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold and crude

Gold’s rally shows no sign of stopping, but WTI is still unable to break $54.

Gold bars
Source: Bloomberg

Gold continues to move up

While the straight-line move on the FTSE 100 seems to have ended, for gold it shows no sign of stopping. 

A dip towards $1209 has been met by buying, with a move back through yesterday’s highs at $1219 now looking likely. Longer-term targets in this rally are $1226 and $1246, with a bearish move needing a daily close below $1190.

Gold price chart

WTI again fails to break $54

For the second time in a week WTI has failed to break $54, and a fresh drop in the early part of the session now suggests the $52.76 support level will be tested once again.

Below this in the short term lies $52.23 and then $51.48. Any rally would have to clear $54 to target $54.80 and then the peak from 3 January at $55.50. 

WTI crude price chart

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